Vagit Alekperov, CEO of Lukoil, said during a meeting with Vladimir Putin, President of the Russian Federation, that the company took an investment decision to build a new gas-to-chemicals plant in Budenovsk (Southern Russia) – reports Rupec.
The amount of investment is expected to be about 120 billions RR. The plant will process natural gas from the Northern Caspian fields – Kuvykina and Rakuschechnoye.
Lukoil has prepared a complex plan of Northern Caspian region development. Currently, a gas pipeline is coming to Budenovsk. We took the decision to invest in developing two product lines: chemicals and polyethylene and polypropylene – Vagit Alekperov said.
The project will be further detailed and there are no final estimations of projected capacity as it depends significantly on feed-stock available.
Lukoil is currently operating a petrochemical plant site, Stavrolen in the Stavropol region. Stavrolen manufactures a number of ethilen by-products receiving associated gas from Filanovskoye field.
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